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Dogecoin

Crypto Analyst Predicts 404% Price Breakout For Dogecoin, Here’s The Target

Scott Matherson
by Scott Matherson
1 year ago
·
Posted in Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Based on crypto analyst Javon Marks’ recent analysis, a massive price breakout could be on the cards for Dogecoin (DOGE). The analyst suggested that this big move for the foremost meme coin could happen sooner than many would expect. 

Dogecoin To Enjoy A 404% Price Breakout

Marks predicted in an X (formerly Twitter) post that Dogecoin could enjoy a price gain of over 404% to reach its current breakout target at $0.6533. He stated that this move may already be loading, suggesting it was imminent. He added that this next leg up “may be a matter of time, and prices could be preparing here for a break above.”

Related Reading: FLOKI Investors Beware: Developers Issue Critical Warning For The Shiba Inu Competitor
Dogecoin 1
Source: X

A move toward $0.6533 for Dogecoin is significant as it will mark a yearly high for the meme coin and possibly highlight the climax of a long overdue rally for the foremost meme coin, given its relatively unimpressive performance this year compared to other meme coins. However, based on Marks’ previous prediction, Dogecoin could still make more parabolic moves to the upside even after hitting the $0.6533 price target. 

The analyst previously predicted that Dogecoin will rise to as high as $17 in this bull run. He made this prediction based on DOGE’s historical trend, in which the meme coin has always topped its previous bull run in every subsequent market cycle. As such, the analyst expects the meme coin to enjoy a larger price move in this bull run than the 22,800% price gain in 2021. 

Meanwhile, crypto analyst Big Mike provided insights into when exactly Dogecoin could rise to $0.6. Based on the chart that the analyst shared, the foremost meme coin will hit or come close to that price target by year-end. Big Mike analyzed Dogecoin’s future trajectory using the Elliot Wave Theory, which showed that the foremost meme coin will reach $1 by September 2025.  

Dogecoin 2
Source: X

DOGE’s Short-Term Move

Crypto analyst Trader Tardigrade recently provided insights into how high Dogecoin could rise in the short term. The chart he shared suggested that the meme coin would climb back to around $0.15, the price range from which it dropped following its June decline. Meanwhile, the analyst highlighted DOGE’s bullish outlook, noting that the meme coin has formed an ascending triangle at the bottom of its recent downtrend. 

Related Reading: What Is Hamster Kombat And Why Are Millions Of Crypto Users Adopting It?

He further revealed that two double bottoms form the base, which he claimed is “so bullish” for Dogecoin. Crypto analyst Kevin (formerly OG Yomi) also recently provided a bullish narrative for Dogecoin, stating that his indicator has flashed a weekly buy signal for the first time since Dogecoin was at $0.05. He added that DOGE is about two green weekly candles away from confirming its first weekly golden cross in four years. 

Dogecoin price chart from Tradingview.com
DOGE price above $0.2 | Source: DOGEUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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